Cryptocurrency exchange BitMEX answered our questions about the topics that crypto investors are curious about.
In the turbulent period of the crypto money market, the fate of crypto money exchanges was also among the topics of interest. Especially the recent FTX events have made reliable crypto money exchanges come to the fore. Curious about which exchange to hold assets, crypto investors entered into a comprehensive research. As Coinkolik, we conducted an exclusive interview with BitMEX. Here are the questions and answers that crypto investors are curious about.
BitMEX: Need to Focus on Blockchain Technology
With the adopted cryptocurrencies, traditional finance started to be integrated gradually. As Coinkolik, we asked how BitMEX is positioning itself in the crypto market and traditional finance.
The popular cryptocurrency exchange underlined that there are many points where traditional finance and cryptocurrencies diverge and merge. Touching on this point, BitMEX stated that it is necessary to look at what cryptocurrencies bring thanks to blockchain technology. The stock market pointed to the speed and savings headings that entered our lives with blockchain. In addition, the stock market believes that cryptocurrencies will take place in the future thanks to this technology.
BitMEX stated that they welcome traditional companies that have recently joined the industry. The exchange, which has been serving for 8 years, underlined the need to focus on blockchain technology in the adoption process.
BitMEX: Slow Progress of Regulatory Process is Normal
Troubled times in the cryptocurrency market have increased the need for regulation and supervision. As Coinkolik, we got BitMEX’s views on regulations and Turkey.
The popular cryptocurrency exchange said that we should not wait for a regulation that will be accepted by the whole world regarding the regulations in the crypto money sector. Referring to the regulations, BitMEX predicts that the process will progress more slowly due to the different perspectives of each country. BitMEX stated that over time, cryptocurrencies will develop further and the moves of countries towards this sector will become clear.
Touching on Turkey, the stock market underlined that the country has an important position in the crypto ecosystem. BitMEX stated that its future plans also include Turkey. Referring to its current studies on Turkey, the stock market talked about the informative content they made on their blog pages. BitMEX also mentioned these studies and claimed that they aim to inform and develop crypto investors in Turkey.
BitMEX: We Have a Comprehensive Insurance Fund
The bear market, which means a downtrend in the crypto money market, is called the most disliked period by investors. This period is putting many crypto organizations in trouble. As Coinkolik, we asked about BitMEX’s bear market moves and worst-case scenario measures.
The popular cryptocurrency exchange considered it normal to see volatility in the cryptocurrency market. BitMEX underlined that it aims to protect its users in the period of bear market and volatile activity. The exchange announced that it has created an insurance fund in this context. With this fund, BitMEX stated that it aims to minimize the losses of its users.
BitMEX: We Have No Plans for Turkish Lira Parities
Cryptocurrency investors in Turkey can also choose to trade in Turkish Lira. As Coinkolik, we asked about BitMEX’s planning for the Turkish Lira trading pair in crypto currency pairs.
The popular cryptocurrency exchange replied that they have no such plans at the moment.
BitMEX: We Have No NFT Marketplace Plan
Many major cryptocurrency exchanges have attracted intense interest from their users by opening NFT marketplaces. However, this situation led to the distribution of money in the stock market to different areas. We at Coinkolik asked if BitMEX has any NFT marketplace plans.
The popular cryptocurrency exchange stated that it has no plans to open an NFT marketplace. BitMEX stated that it wants to focus on its core activities, which it describes as what it does best. Referring to the latest developments, the stock market argued that jumping too many branches hurt the investors.
BitMEX: BMEX Not Used to Fund the Exchange
Many crypto exchanges have attracted the attention of investors with the cryptocurrency belonging to their ecosystem. However, FTX also led to the collapse of the FTT token after its bankruptcy. As Coinkolik, we asked for details about BitMEX’s own token.
The popular cryptocurrency exchange said that they have successfully launched their own token, BMEX. BitMEX underlined that they offer a pure loyalty and reward system to their users with BMEX.
Also, BitMEX pointed out that BMEX does not function as any margin for positions or collateral loans. The exchange stated that their token is not used to finance any operational expenses.
The exchange announced that users who own this token can enjoy privileges such as commission discounts, free withdrawals and VIP customer service.